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06-Nov-2018 New Delhi

PNB fraud: ED arrests Choksi's Hong Kong firm director

The Enforcement Directorate on Tuesday said that it has arrested from Kolkata a director of a shell company of fugitive diamentaire Mehul Choksi in the Rs 13,500 crore Punjab National Bank (PNB) fraud case."We have arrested Deepak Krishna Rao Kulkarni from...

01-Oct-2018 New Delhi

PNB fraud: ED attaches Nirav Modi's foreign assets worth Rs 637 cr

The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, even as the agency continued its investigation into the Punjab...

01-Oct-2018 New Delhi

ED attaches Nirav Modi's foreign assets worth Rs 637 cr

The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, in its ongoing investigation into the Punjab National Bank...

27-Sep-2018 Bhopal

Vyapam case: FIR ordered against Digvijay, Kamal Nath, Scindia

A Special Court here has ordered an FIR against Congress leaders Digvijay Singh, Jyotiraditya Scindia, Kamal Nath and Vyapam scam whistleblower Prashant Pandey on a petition filed by BJP's legal cell advocate Santosh Sharma.Judge Suresh Singh, late on...

19-Sep-2018 Bhopal

Rs 2 cr scam unearthed in women, child department in MP

A scam of around Rs 2 crore has been unearthed in Madhya Pradesh's Women and Child Development (WCD) Department, police said on Wednesday.An FIR was registered by the police after WCD Joint Director Swarnim Shukla on Tuesday filed a complaint against 14...

14-Sep-2018 New Delhi

Saradha scam: ED given time to respond to Nalini Chidambaram plea

The Supreme Court on Friday gave Enforcement Directorate (ED) and others two weeks to respond to Nalini Chidambaram's plea against her summoning in the Saradha chit fund scam case.Nalini Chidambaram is a senior lawyer practising in Supreme Court.The bench...

12-Sep-2018 New Delhi

ED chargesheets Pearls Group in Rs 48K cr ponzi scam

The Enforcement Directorate (ED) on Wednesday filed a charge- sheet against Pearls Group and its chief Nirmal Singh Bhangoo in connection with a ponzi scam involving over Rs 48,000 crore.Apart from Bhangoo, who is in judicial custody, three of his colleagues...

11-Sep-2018 New Delhi

Allegations false, ED attached my property illegally : Mehul Choksi

Amid Indias efforts to get a red corner notice against him, fugitive PNB scam accused Mehul Choksi, in his first message from his hideout in Antigua, denied allegations of any wrongdoing and instead accused the ED of "illegally" attaching his properties.In...

07-Sep-2018 Chennai

Gutkha scam: Chennai ex-police commissioner George pleads innocence

Former Chennai Police Commissioner S. George on Friday said he has not received any money from any gutkha manufacturer.The former city police chief told reporters here that at the time when the scam surfaced, it was blown up to prevent him and T.K. Rajendran...

06-Sep-2018 New Delhi

Gutkha scam : CBI arrests four

The CBI on Thursday said it has arrested four persons including the promoters and directors of Jayem Industries and officers of the Food Safety and Drug Administration and Excise Department in connection with the multi-crore gutkha scam in Tamil Nadu.A Central...

05-Sep-2018 Chennai

CBI raids TN Minister, DGP in gutkha scam

CBI officials from New Delhi on Wednesday searched the residences of several persons including Health and Family Welfare Minister C. Vijayabasker and Director General of Police (DGP) T.K. Rajendran in connection with a multi-crore gutkha scam."Separate CBI...

22-Aug-2018 Kolkata

Saradha Scam: CBI plans to question four Bengal IPS officers

The CBI has written to the West Bengal police chief wanting to question four senior IPS officers in the state, including Kolkata Police Commissioner Rajiv Kumar, in connection with the multi-crore Saradha chit fund scam, an agency official said on Wednesday.The...

13-Aug-2018 New Delhi

PNB scam: Centre dismisses former MD on last day of service

The central government on Monday dismissed former Allahabad Bank Managing Director Usha Ananthasubramanian on the day she was to superannuate from service, according to an official notification.In May this year, Ananthasubramanian had been divested of all...

31-Jul-2018 Bhopal

Four awarded four-year jail term in Vyapam scam

A special CBI court here on Tuesday awarded jail term to four persons for their involvement in the infamous Vyapam scam in Madhya Pradesh, officials said on Tuesday.Central Bureau of Investigation (CBI) prosecutor Pawan Pathak told reporters that the four...

11-Jun-2018 New Delhi

CBI has no information about Nirav Modi's whereabouts

The CBI has no idea about the whereabouts of the diamantaire Nirav Modi, who is absconding in the Rs 14,500 crore Punjab National Bank fraud case, informed sources said on Monday against the backdrop of reports from London that he has sought asylum in Britain.They...

14-May-2018 Mumbai

PNB scam: CBI chargesheet names Allahabad Bank CEO, 21 others

The CBI on Monday filed a chargesheet against Allahabad Bank MD and CEO Usha Ananthasubramanian and 21 others, including 11 bank officials, in the over Rs 13,000 crore Punjab National Bank (PNB) fraud case in which diamantaire Nirav Modi and his uncle Mehul...

09-Apr-2018 Ranchi

37 convicted in fodder scam case

A special CBI court in Ranchi on Monday convicted 37 people and acquitted five in one of the cases related to the fodder scam.The case (number RC 45A/96) related to fraudulent withdrawal of Rs 34.91 crore from Dumka treasury during 1991-92 and 1995-96.This...

09-Apr-2018 Mumbai

PNB fallout : CBI may act against top law firm

A leading Mumbai law firm may face action by the Central Bureau of Investigation (CBI) in connection with the possession of some unauthorised documents pertaining to the ongoing probe in the Punjab National Bank (PNB) fraud case, official sources said...

08-Apr-2018 Mumbai

Non-bailable warrants issued against Nirav Modi, Mehul Choksi

A special CBI court here on Sunday issued non-bailable warrants (NBWs)against diamantaire Nirav Modi and his uncle Mehul Choksi in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud.The court's move comes following Central Bureau of Investigation...

06-Apr-2018 New Delhi

PNB fraud: CBI questions former RBI Deputy Governor

The CBI on Friday questioned the Reserve Bank of India's (RBI) former Deputy Governor Harun Rashid Khan in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said.Informed...

05-Apr-2018 New Delhi

PNB fraud: CBI questions four RBI officials

The CBI on Thursday questioned four Reserve Bank of India (RBI) officials in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said.Those questioned includes three Chief...

05-Apr-2018 Jammu

Gulmarg Land Scam: Baramulla Court to conclude trial expeditiously

In a significant order a Division Bench of the State High Court (Jammu Wing) comprising Justice Alok Aradhe and Justice Tashi Rabstan has directed the 1st Additional Sessions Judge, Baramulla to take steps for completion of the trial expeditiously. The...

05-Apr-2018 New Delhi

PNB fraud: CBI questions four RBI officials

The CBI on Thursday questioned four Reserve Bank of India (RBI) officials in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said.Those questioned includes three Chief...

01-Apr-2018 Bengaluru

CBI files Rs 19cr UCO bank fraud case

The CBI has registered a fresh bank fraud case amounting to Rs 19.03 crore that was sanctioned by UCO Bank to 18 fake borrowers under various home and property loan schemes with concessional interest rates in 2013 and 2016, it was announced on Sunday.The...

29-Mar-2018 New Delhi

PNB to honour all inter-bank LoUs, FLCs

State-run lender Punjab National Bank (PNB) will honour all inter-bank Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) issued by it which mature on or before March 31, 2018.The decision was taken by the Board of PNB in a meeting held on Wednesday."The...

23-Mar-2018 New Delhi

CBI lodges case in another bank fraud involving Rs 445 cr

In yet another case of bank fraud, the Central Bureau of Investigation (CBI) on Friday filed a case against 31 persons, including a General Manager of IDBI Bank, for allegedly defrauding the lender of Rs 445 crore, given out as loans which have since turned...

22-Mar-2018 Bhopal

CBI arrests Bhopal medical college chairman in Vyapam scam

The CBI has arrested Bhopal's L.N. Medical College Chairman J.N. Chouksey in connection with admission irregularities pertaining to the Pre-Medical Test 2012 conducted by the Madhya Pradesh Professional Examination Board or Vyapam, an official said on Thursday.Chouksey,...

17-Mar-2018 Mumbai

Rs 9.1-cr Chandri Paper fraud reported to CBI on Feb 13 : PNB

The Punjab National Bank (PNB) on Saturday clarified that Rs 9.10 crore fraud unearthed pertaining to Chandri Paper and Allied Products was not a new fraud."It is not a new fraud. Fraud had already been declared in respect of fradulent and unauthorised issuance...

15-Mar-2018 New Delhi

CBI arrests R.P. Info System directors in Rs 515 cr bank fraud

The CBI on Thursday arrested two directors of Kolkata-based computer manufacturing firm R.P. Info System for allegedly cheating a consortium of banks to the tune of Rs 515.15 crore, an official said.Those arrested have been identified as Shivaji Panja and...

15-Mar-2018 New Delhi

Ex-PNB official Shetty booked in Rs 9-cr LoU fraud with another company

Apparently, the Nirav Modi and Mehul Choksi groups were not the only ones indulging in frauds related to Letters of Undertaking (LoUs) issued by the Punjab National Bank (PNB) officials.The Central Bureau of Investigation (CBI) has filed another case against former...

13-Mar-2018 New Delhi

PNB discloses Rs 942 cr additional exposure to Gitanjali group

The Punjab National Bank (PNB) has filed a fresh complaint to the CBI alleging it has uncovered additional exposure of about Rs 942.18 crore defraud by Gitanjali Group of companies in connection with a multi-crore fraud.The PNB, the country's second-biggest...

13-Mar-2018 Mumbai

PNB fraud fallout: RBI scraps Letters of Undertaking system

The Reserve Bank of India (RBI) on Tuesday discontinued the system of issuing Letters of Undertaking (LoUs) by banks for availing trade credits for imports into India in the wake of the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) unveiled...

12-Mar-2018 New Delhi

Arun Jaitley silent on PNB scam to protect daughter : Rahul Gandhi

Congress President Rahul Gandhi on Monday alleged that Finance Minister Arun Jaitley was silent on the Rs 12,600 crore PNB fraud case to "protect his lawyer daughter" and asked why her firm was not "raided"."It's now revealed that our Finance Minister's silence...

11-Mar-2018 New Delhi

PNB fraud overreaction may hugely hurt credit flow : Assocham

Overreaction by banks and investigative agencies to the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) which came to light last month could hurt essential credit disbursement to trade and industry, tempering growth expectations, industry association...

08-Mar-2018 New Delhi

PNB fraud accused Choksi says impossible to return to India

Gitanjail Group promoter Mehul Choksi, accused of involvement in the Rs 12,600 crore fraud against the Punjab National Bank (PNB), has said it was "impossible" for him to return to India, citing health reasons and suspension of his passport.In a March 7 dated...

08-Mar-2018 New Delhi

CBI registers fresh Rs 321 crore case against Nirav Modi

The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017.According to a Central Bureau of Investigation...

07-Mar-2018 New Delhi

High Court seeks ED response in Nirav Modi case

The Delhi High Court on Wednesday asked the Enforcement Directorate (ED) to file a response on a plea filed by Nirav Modi's firm Firestar Diamond against the probe agency proceedings in the multi-crore-rupee Punjab National Bank (PNB) fraud case.A bench...

06-Mar-2018 New Delhi/Mumbai

PNB fraud: CBI questions top Gitanjali official

The CBI on Tuesday began questioning the Vice President of Banking Operations of Mehul Choksi's Gitanjali Group in connection with its ongoing probe into the multi-crore PNB fraud case, officials said."Vipul Chitalia was picked up for questioning," a Central...

05-Mar-2018 New Delhi/Mumbai

PNB fraud: CBI grills GM, gets remand of 4 accused till March 17

The Central Bureau of Investigation (CBI) on Monday said it questioned a General Manager of the Treasury Division of Punjab National Bank (PNB) in connection with its ongoing probe into Rs 12,600-crore bank fraud case involving diamond jeweller Nirav Modi...

05-Mar-2018 New Delhi

Lok Sabha, Rajya Sabha adjourned amid protests against PNB bank fraud

The Lok Sabha and the Rajya Sabha were adjourned on Monday as soon as they met for the second part of the budget session of Parliament amid opposition protests over the Punjab National Bank fraud and special status to Andhra Pradesh.The Lok Sabha was adjourned...

04-Mar-2018 New Delhi

PNB fraud : NCLT bars 64 firms from selling assets

The National Company Law Tribunal (NCLT) has restrained over 60 companies, including those belonging to Rs 12,600-crore PNB fraud accused Nirav Modi and his uncle Mehul Choksi, from selling their assets, according to a government announcement on Sunday.The...

04-Mar-2018 New Delhi

PNB scam: Mauritius promises necessary action against offenders

In connection with the alleged Rs 12,600-crore fraud at the state-run Punjab National Bank (PNB), also involving overseas branches, Mauritius has promised regulatory action against individuals or entities found to be linked with "fraudulent practices".Taking...

01-Mar-2018 New Delhi/Mumbai

CBI arrests PNB's retired officer, ED attaches Choksi's properties

A day after arresting an internal auditor of PNB, the CBI on Thursday said a retired bank Chief Manager has been arrested in the Rs 12,600 crore bank fraud involving jeweller Nirav Modi and his uncle Mehul Choksi.A Central Bureau of Investigation (CBI)...

01-Mar-2018 Mumbai

PNB attributes recent additional Rs 1,300 cr fraud to Gitanjali

The recently announced escalation in the Punjab National Bank (PNB) fraud amount by Rs 1,300 crore is attributable to Nirav Modi's uncle Mehul Choksi-owned Gitanjali Gems, the bank said in a clarification on Thursday.In a note to the stock exchanges, PNB...

01-Mar-2018 New Delhi

RBI did risk-based supervision of bank every year : PNB

The Rs 12,600 crore fraud-hit Punjab National Bank on Thursday clarified that the Reserve Bank of India (RBI) had done risk-based supervision of the bank on an annual basis."There have been reports in a section of media that Reserve Bank of India has not...

01-Mar-2018 New Delhi

PNB case: ED attaches Choksi's properties worth Rs 1,200 cr

The Enforcement Directorate on Thursday attached 41 properties of Mehul Choksi of the Gitanjali Group, worth Rs 1,217 crore, in connection with an ongoing probe into the Rs 12,600 crore Punjab National Bank fraud case.An ED official told IANS: "At least...

27-Feb-2018 Mumbai

After Rs 12,600 cr fraud, PNB appoints group Chief Risk Officer

It may be seen as a classic case of shutting the door after the horse has bolted, but the multi-crore fraud hit Punjab National Bank appointed A.K.Pradhan as Group Chief Risk Officer, a regulatory filing by the bank said here on Tuesday.The PNB reported...

27-Feb-2018 New Delhi

PSBs asked to check all NPAs above Rs 50 cr for "possible fraud"

In the wake of the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) by accused diamantaire Nirav Modi and his uncle Mehul Choksi, the government on Tuesday set a deadline of 15 days for public sector banks (PSBs) to examine all non-performing...

27-Feb-2018 Mumbai

PNB scam: Additional Rs 1,300 cr fraud revealed

The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1,300 crore unauthorised transactions, taking the estimated quantum to Rs 12,600 crore in the scam related to diamond trader Nirav Modi and owner of Gitanjali Gems, Mehul Choksi.In a...

26-Feb-2018 New Delhi

CBI quizzes PNB officials, issues LOCs against 10 firm executives

The CBI on Monday said it questioned Punjab National Bank (PNB) Executive Director K.V. Brahmaji Rao, two General Managers and a retired official in connection with its probe into the Rs 11,300 crore fraud.A Central Bureau of Investigation official said...

26-Feb-2018 Mumbai

PNB fraud: CBI raids top Mumbai law firm

The Central Bureau of Investigations (CBI) raided the offices of a well-known legal firm as part of the ongoing probe into the Rs 11,300 crore Punjab National Bank (PNB) fraud involving billionaire diamond trader Nirav Modi, official sources said here on...

26-Feb-2018 New Delhi

PNB fraud a systemic failure : Venkaiah Naidu

In wake of an alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB), Vice President M. Venkaiah Naidu on Monday said there was no use of blame game as the banking system in the country was going through a systemic falure."There have to be...

25-Feb-2018 New Delhi

PNB scam: CII for hi-tech control systems, privatising PSBs

In the wake of an alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB), the Indian industry on Sunday urged for better and hi-tech control systems to check financial frauds as also a gradual decrease in government holding in public sector...

25-Feb-2018 New Delhi

PNB fraud should not halt corporate lending : Assocham

The alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB) committed by accused diamantaire Nirav Modi should not halt the entire system of corporate lending as demoralisation would set in among public sector bank (PSB) employees, industry...

24-Feb-2018 New Delhi

CBI questions PNB MD, Director in $1.8 bn bank fraud

The CBI on Saturday questioned Punjab National Bank (PNB) Managing Director-cum-CEO Sunil Mehta and Executive Director K.V. Brahmaji Rao in connection with the Rs 11,300 crore/$1.8 billion bank fraud case.Both the officials were called at the Central Bureau...

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